I like the way you related it to "finite" and "infinite" games.. similar to Simon Sinek talk on TED about Why.. trying to stay robotic in trading is hard since we're all emotional creatures of habit.. I follow specific rules for investing but with speculation it's hard to stick to the rules, but I follow the high IV, high POP trading, 45-60 DTE trades.
i remove myself from the money and not effected by loss. What i decided was i felt was a sound choice and i never trade over my means in a stupid risky lotto.
It is 4am and am watching this with amazement. So much knowledge, clear explanation of things that traders need. Keep up the good work. I am learning a lot from you.
Your webinars are just amazing, great knowledge, a great way of explaining things, unusual approach. I've been watching trading content for 1 year and this is my second video from you, in both, I heard things I haven't heard so far anywhere else. Good job!
I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@DavidAntony-gq7id Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
Hello Tony, amazing content... The information is this video is gold; this video is bookmarked and I will be returning to it on a regular basis.... Thank you for sharing your wisdom
Hello there tony zhang this is the first video i am watching in your channel and you are similar to trader from UK Mr. David Paul of vector vest, you are genius in risk management
Thanks Tony. I just started watching your videos and learning a lot. How do you manage a trade that has gone against you very quickly and badly with more than 40 DTE? Take the loss? Give it time?
That really depends on what the strategy is. If it is a strategy with a defined max loss and you are near the max loss, with that much time left, you can hold the trade. However if it’s still far from the max loss, it’s best to cut your losses and move on
At 35:56, what doesn't make sense to me is that Tony is saying that a 50% stop loss will cut the portfolio loss while also maintaining the same probability of losing. E.g. for a strategy with a 50% win rate, there is a 3.13% chance of losing 10% of portfolio vs. a 3.13% chance of losing 5% of portfolio. But, if you set a stop loss at 50% of the original risk, then that should inherently affect the win rate, no? Doing this kind of stop loss makes you more susceptible to closing early for a loss, thus affecting win rate. I really like this practice, and I will implement this in my own trading, but I don't agree with the math.
My question (and counterargument) would be....if i wanted to be 100% invested (assuming no margin) i would have to have 50 positions at 2% which to me makes it too hard to keep track of all the positions....i prefer to take slightly bigger positions of tickers or more lately ETFs that wont' be as volatile hopefully and try to diversify a bit in sectors .....and hopefully pull out of anything if it drops too much..generally 7-8% unless I have talked myself into thinking it will bounce then I will let it run to 20% loss. .unfortunately I don't have any hard trading rules. With my high beta stocks, I have more than doubled my money since October, but realize they can tank quickly
Tony very scientific , I gained lot from this. How to contact you. I am in Canada. we are npt allowed to open the account. How can Canadian benefit from your software
Wait so if you want to buy a stock that is $100 you will only buy 10 or 20 shares on a 100000 acct. So really where is the profit? So one should buy 50 different stocks with the 1 to 2 percent rule insuring (hopefully) a reasonable profit? Well this is something to think about. Anyway thanks for the explanation of the importance of Psychology, by far the greatest danger is to believe you are special in the trading world thanks again for the series.
I think 2% of your account per trade is unrealistic in smaller accounts. With a $10,000 account just buying 1 share of SPY is already 2x the limit. Also, if you were to hit a homerun say w/ RIOT or PLUG recently and your up 20% in that position you've only made a whole whopping $40. At least in a smaller account I would rather bigger than 2% per trade & strict stop losses.
^ Adam, - I believe he is coming at this from the perspective of someone who trades options exclusively. EG: Keep about 75 - 80% of your resources in cash, and run 5-6 bull call spreads / bear call spreads at a time....
The 1 - 2 percent strategy is much bigger because options give you so much more leverage which most of these beginners don’t understand what they’ve got going for them.
Half of trading is psychology, your supposed to set rules and use those rules but it's very hard to do, even the best traders have issues with managing emotions and they talk about it a lot. If you understand risk better I think it helps you rely less on your emotions when your losing a trade and think more clearly.
Trading effectively entails a greater deal of skill and perseverance. Ultimately, the best and most productive option I chose was to contract an expert funds manager, with his professional assistance I’ve been on a long profit run
What are your thoughts on the importance of trading psychology? What rules do you practice?
I like the way you related it to "finite" and "infinite" games.. similar to Simon Sinek talk on TED about Why.. trying to stay robotic in trading is hard since we're all emotional creatures of habit.. I follow specific rules for investing but with speculation it's hard to stick to the rules, but I follow the high IV, high POP trading, 45-60 DTE trades.
@@badaboombadabing808 A@A@A£A@A@
i remove myself from the money and not effected by loss. What i decided was i felt was a sound choice and i never trade over my means in a stupid risky lotto.
It is 4am and am watching this with amazement. So much knowledge, clear explanation of things that traders need. Keep up the good work. I am learning a lot from you.
Your webinars are just amazing, great knowledge, a great way of explaining things, unusual approach. I've been watching trading content for 1 year and this is my second video from you, in both, I heard things I haven't heard so far anywhere else. Good job!
Thank you, I really appreciate that!
Best teacher, best advice I've heard here on you tube.
tony dropping free knowledge. take notes. 👌
Thank you
I like he professional approach. My money is no joke ,and it's nice to be serious about it. Thank you.
Thank you, Lucy.
Another "5 Star" video, by Tony.
Thank you very much! Glad you enjoyed this one
Essential Webinar for every trader. Thanks Tony
I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving
@@DavidAntony-gq7id Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a while now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I netted over $220K during this dip, that made it clear there's more to the market that we avg joes don't know
@@harrisonjamie794 Who’s the person guiding you
@@DavidAntony-gq7id credits to *MARTHA ALONSO HARA*, one of the best portfolio managers out there. she's well known, you should look her up
@@harrisonjamie794 Thank you, I just checked her out and I have sent her an email. I hope she gets back to me soon.
I can't thank you enough for this Tony.
My pleasure!
Great risk management video in options trading
Thanks for watching!
Thanks for highlighting how important psychology is for trading.
Absolutely!
Hello Tony, amazing content... The information is this video is gold; this video is bookmarked and I will be returning to it on a regular basis.... Thank you for sharing your wisdom
So glad to hear that, Amyn! Thanks for your support!
Thanks Tony! Wow so needed this!
Glad you enjoyed!
Excellent content as usual! You rock, Tony!
Thanks Scott!
Bought the Carse book immediately. can't wait to read it. whole video was great
Thank you Tony.
Thanks for watching Dominic!
Thanks Tony, very excellent presentations.
My pleasure!
Great video, thanks Tony .
Thank you for watching Ben!
Hello there tony zhang this is the first video i am watching in your channel and you are similar to trader from UK Mr. David Paul of vector vest, you are genius in risk management
Thank you for taking the time to create this video. Could you also upload a video on performing due dilligence on a stock?
Thank you , this is what I needed to here.
Its was my main issue
Glad this was helpful!
Thanks Tony. I just started watching your videos and learning a lot. How do you manage a trade that has gone against you very quickly and badly with more than 40 DTE? Take the loss? Give it time?
That really depends on what the strategy is. If it is a strategy with a defined max loss and you are near the max loss, with that much time left, you can hold the trade. However if it’s still far from the max loss, it’s best to cut your losses and move on
@@OptionsPlay Thanks. PYPL
@@taiga2417 Np!
Does the 2% applies to the wheel strategy?
As a new options trader this was education for my thought process
Great vidéo! Merci beaucoup!
Thank you!
At 35:56, what doesn't make sense to me is that Tony is saying that a 50% stop loss will cut the portfolio loss while also maintaining the same probability of losing. E.g. for a strategy with a 50% win rate, there is a 3.13% chance of losing 10% of portfolio vs. a 3.13% chance of losing 5% of portfolio. But, if you set a stop loss at 50% of the original risk, then that should inherently affect the win rate, no? Doing this kind of stop loss makes you more susceptible to closing early for a loss, thus affecting win rate.
I really like this practice, and I will implement this in my own trading, but I don't agree with the math.
Great video you guys have helped me so much thanks
Thank you for sharing that with us, glad to hear it!
Hi Tony - great presentation as always! One favor - the link for item #2 above (trading view charts) gives an error. Is there another link available?
Tony for some reason I’m no longer getting reminders for Canadian or these Thursday education sessions. How do I re-register? Thank you.
My question (and counterargument) would be....if i wanted to be 100% invested (assuming no margin) i would have to have 50 positions at 2% which to me makes it too hard to keep track of all the positions....i prefer to take slightly bigger positions of tickers or more lately ETFs that wont' be as volatile hopefully and try to diversify a bit in sectors .....and hopefully pull out of anything if it drops too much..generally 7-8% unless I have talked myself into thinking it will bounce then I will let it run to 20% loss.
.unfortunately I don't have any hard trading rules. With my high beta stocks, I have more than doubled my money since October, but realize they can tank quickly
I think he is talking about short term traders with the 1-2% rule. long term holdings would be different imo
Tony very scientific , I gained lot from this. How to contact you. I am in Canada. we are npt allowed to open the account. How can Canadian benefit from your software
How long does it take to master trading psychology
Hihi how do we setup stop loss? Stop limit?
😎 Awesome!
Thank you!
May I know your thoughts on Spot forex trading
Wait so if you want to buy a stock that is $100 you will only buy 10 or 20 shares on a 100000 acct. So really where is the profit? So one should buy 50 different stocks with the 1 to 2 percent rule insuring (hopefully) a reasonable profit? Well this is something to think about. Anyway thanks for the explanation of the importance of Psychology, by far the greatest danger is to believe you are special in the trading world thanks again for the series.
I think 2% of your account per trade is unrealistic in smaller accounts. With a $10,000 account just buying 1 share of SPY is already 2x the limit. Also, if you were to hit a homerun say w/ RIOT or PLUG recently and your up 20% in that position you've only made a whole whopping $40.
At least in a smaller account I would rather bigger than 2% per trade & strict stop losses.
^ Adam, - I believe he is coming at this from the perspective of someone who trades options exclusively. EG: Keep about 75 - 80% of your resources in cash, and run 5-6 bull call spreads / bear call spreads at a time....
Thanks
Thank You Mr Zhang you helped me alot. i am set on the right path. You are like a walking stick and a headlamp in a dark gloomy trading world.
The 1 - 2 percent strategy is much bigger because options give you so much more leverage which most of these beginners don’t understand what they’ve got going for them.
I have a big sign in my office-- Live to trade another day is rule #1.
A nice reminder
Awesome
Thank you
Life itself is an example of an 'infinite game'.
Well said
Rule#1-Play 2 stay in the game. Rule#2-Never forget rule #1 🤟🤘✌️👍
From India
It takes 5 wins to cover up losses in 1 trade - Replying to question asked @8.30
1
Okay
I am one of that men.
if is its about risk management... why is psychology in the title?
Half of trading is psychology, your supposed to set rules and use those rules but it's very hard to do, even the best traders have issues with managing emotions and they talk about it a lot. If you understand risk better I think it helps you rely less on your emotions when your losing a trade and think more clearly.
Trading effectively entails a greater deal of skill and perseverance. Ultimately, the best and most productive option I chose was to contract an expert funds manager, with his professional assistance I’ve been on a long profit run
was gonna subscribe and sign up but your webpage isnt safe nor private. BIG NO THANKS.
I lied you know I signed up. LMFAO
😂 Thanks for joining
i really think this is going to be bullshit... no one trades and doesn't know the golden rule
You have issues that you're not fully disclosing
1 I sell or buy back to early and then it goes where I expected any way
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